With cutting-edge competition within every specific professional discipline, it is essential that one is equipped with the best set of skills, knowledge, and know-how to emerge as a leader in any professional segment. To be a master in any specific field, one must have the right set of certifications and the necessary training to gain an unhindered exposure of the various situations that arise during any profession.
Chartered Accountancy has emerged as a respectable and high-skill requisite profession. For Chartered Accountants who have successfully accomplished their CA-IPCC, a 3-Year practical training phase known as CA Articleship is mandatory to be accomplished.
What Is Articleship in CA?
In the domain of Chartered Accountancy, after completion of CA-IPCC, it is mandatory for students to be part of a three-year practical training known as CA Articleship that provides exposure of real assignments under the supervision of experts at a chartered accountancy firm.
Chartered accountancy is a prestigious profession, but it comes with a requisite of higher expertise for the CA’s to sustain the challenging scenarios that the professionals are introduced to from time to time basis. Though the 3-Year CA Articleship program, students gain first-hand exposure of the real-world scenarios and situations that unfold during assignments as a chartered accountant and thus it moulds the students to adopt and implement the necessary responses, decisions and approaches that will enable success as a Chartered Accountant.
Importance of Articleship in your Career
Articleship program is a CA student’s first exposure to the workings in any Chartered Accountancy firm and enables first-hand understanding of the professional responsibilities, client requisites and demands from a CA professional. Throughout the 3-Year CA Articleship program, one gets to gain refined professional upbringing as a Chartered Accountant and be guided upon the future career prospects and opportunities that could be preferred. CA Articleship provides an undeniable opportunity for a student to take on advanced roles and responsibilities while gaining an accomplished understanding and knowledge of the myriad technicalities associated with this profession.
Eligibility for CA Articleship?
Every student desirous of availing CA Articleship training is required to satisfy and fulfil certain criteria for eligibility. As a Chartered Accountancy firm is willing to devote special attention and resources on you during the tenure of Articleship program, you must come under the standard eligibility requisites for being deemed worthy of your place at a reputed firm.
Below are the two ways to apply for a CA Articleship training –
- Through CPT Course Channel
Candidates pursuing CA Articleship through CA-CPT course route are required to clear at least one of the groups of IPCC Exam. Thereafter, such candidates must accomplish a one-month course on ICITSS and Information Technology Training (ITT) as specified for being able to join the CA Articleship training.
- Through Direct Entry Route
Commerce graduate applicants having 55% and above marks in commercial studies and other graduates with minimum 60% marks can opt for CA Articleship via the Direct Entry Route.
Expectations of a CA Student from Articleship
A 3-Year training under an expert Chartered Accountant is enough for CA students to be accustomed to the workings and professional scenario that a CA is exposed to. One of the vital advantages of CA Articleship is that after completion of this training, you get to be a professional with only three years of experience. Apart from literal knowledge, you gain a professional and real-time understanding of the tasks you are required to perform as a Chartered Accountant.
Candidates that apply for CA Articleship irrespective of the route they enroll through lack a practical understanding of the chartered accounting profession. As a CA, you need to be able to deal with the clients, retain them, adopt a professional attitude and also attract newer prospects to enable growth.
Through the CA Articleship program, you benefit from first-hand experience of the tasks and responsibilities that are to be accomplished and adorned for enabling success as a CA.
Where to do Articleship?
Chartered Accountancy is a vibrant profession and serves a perfect balance of challenges, experiences, satisfaction as well as credibility. A full-fledged Chartered Accountant possesses the best combination of theoretical knowledge as well as practical understanding of his or her profession. Getting you head-to-head with the practical observation, accomplishment and dealing with various aspects of the job such as auditing, taxation, etc., you get to derive vast benefits from the CA Articleship training.
Candidates can either opt for CA Articleship under a Practicing Chartered Accountant or a Firm of Chartered Accountants. Students have the decision of opting either of the two. These decisions can best be undertaken under the expert supervision of seniors. As classified based on the standard, CA firms are generally categorized as –
- Big Four Firms
- Medium CA firms
- Small CA firms
Does Chartered Accountant (CA) Articleship account for a Valid Work Experience?
Technically, internships or training programs generally don’t get counted as valid work experience, but it still can be a major boost to your CV. For the candidates that go beyond the line and indulge in activities and assignments extra to the basic curriculum of the CA Articleship training, they sure gain a substantial competitive edge.
The level of skills acquired, and accomplishments achieved account to be a deciding factor for your professional experience as a Chartered Accountant and sure give you a higher level of understanding of the various aspects associated with the profession. Your mention of activities and cases undertaken or observed beyond the regular curriculum of the training sure reinforce your identity and expertise as a professional.
Termination of Articleship
In accordance with the regulations and recognized norms of conduct, Transfer or Termination of CA Articleship is acceptable since that that candidate fulfils certain requisites conditions or grounds.
After a CA student enrolls for CA Articleship with a chartered accountancy firm for the 3-Year curriculum, he or she can have the training course terminated or transferred based on certain requisite factors.
Secondment in CA Articleship
Secondment in CA Articleship is an arrangement under which a CA student registered for Articleship with any firm (known as Principal Firm in this case) can be allotted to work for or loaned to work with any other CA firm. Secondment is practised to provide the candidate with a multi-disciplinary exposure to the working conditions in this professional field.
The periods served on secondment should be at minimum of 4 months and cannot exceed 1 year.
Permission to Study Other Courses
For candidates willing to study other courses during their tenure of CA Articleship, they are allowed to pursue at the maximum of one extra course at any given time on the condition that they accept to the regulatory terms and conditions, failure to observe that can hurt the prospects of the CA Articleship.
After completion of the first course, the permission of the second course can only be granted. The students are required to fulfil certain formalities and provide proof of joining to a course for being accepted for release to avail that particular course.
In a general CA Articleship training, it is mandatory for students to avail 2-Years of Articleship and the final 1-Year can be served as a continuation of the Articleship to its full term or a candidate can opt for Industrial Training under a chartered accountant.
The industrial training under CA Articleship can be availed for a minimum period of 9-months and a maximum period of 12-months.
CA Articleship can prove to be the most influential deciding factor in any CA candidate’s career. It gives an opportunity of learning and developing first-hand understanding of the working environment in a Chartered Accountancy firm in Gurgaon.
CA Articleship helps develop a professional attitude. Enhancing your presence of mind, communication abilities, client dealing and retention and also equipping yourself with time management skills, can help you become a successful Chartered Accountant.
It teaches you to come out of your comfort zone and with an enhanced knowing of what to do, when to do and how to do! Aggarwal Varun & Co. offers Professional Corporate Taxation Solutions Services in Gurgaon along with accomplished Chartered Accountancy services. Know more about our services click here: AVCindia